Oettinger Davidoff AG has announced that it has entered into a framework agreement relating to the formation of a joint venture agreement with Sparkle Roll Group Limited, a publicly traded company principally engaged in the distribution and dealerships of top-tier luxury goods in the People’s Republic of China (PRC). The focus of the joint venture agreement will be on Davidoff cigars and cigar accessories in China.
In a press release issued Wednesday morning, Hans-Kristian Hoejsgaard, CEO and board member of Oettinger Davidoff AG said that “the signing of this framework agreement heralds a new era in our relationship with Sparkle Roll. Just a few weeks after announcing our equity stake in Bluebell Cigars (Asia) Ltd, we further strengthen our commitment to Asia and China in particular.” He added that China represents the single largest business opportunity for Davidoff, and he is “convinced that in partnering with Sparkle Roll we will be able to exploit that opportunity to its fullest”
Sparkle Roll Group Limited’s client list includes Bentley in Beijing and Tianjin, Lamborghini and Rolls-Royce in Beijing, as well as watch brands Richard Mille, DeWitt and Parmigiani. They have a cohesive partnership with the jewelry line Boucheron and an exclusive license agreement using trademarks of Royal Asscher in the PRC. Their client list also includes French wine merchant Duclot Export as well as a number of dealerships with Château Latour, Château Margaux, Château d’Yquem and Château Mouton Rothschild.
“We are excited about the prospect of teaming up with Davidoff, one of the world’s leading luxury brands,” said Ivan Tong, Chairman of Sparkle Roll Group Limited via a press release. “With Sparkle Roll’s track record in China’s luxury sector, I am convinced that we can accelerate the brand development of Davidoff in the world’s premier luxury market.”